China sentences drug money launderer to death over $7 million in crypto transactions

The Supreme People’s Procuratorate of China (SPP) disclosed a cross-border narcotics and money-laundering case in which a defendant identified as Li Moubo was sentenced to death after converting more than 48-million-yuan (about $7.04 million) worth of drug proceeds through virtual currencies. The case demonstrates Beijing’s resolve to unleash its heaviest criminal penalties against any crypto-facilitated...